EE 11-8p.559 PE11-8A Quick ratio OBJ. 6 Nabors Company reported the following current assets and liabilities for December 31 for two recent years: Dec. 31, Current Year 650 1,500 700 1,250 2,375 Dec. 31, Previous Year Cash Temporary investments Accounts receivable Inventory Accounts payable AI $ 680 1,550 770 1,400 2,000 a. Compute the quick ratio on December 31 of both years. b. Interpret the company's quick ratio. Is the quick ratio improving or declining